The world is waking up to green energy, and there is plenty of opportunity to benefit from. If you’re still slightly unsure about what green energy involves, our guide will get you up to speed fast. Here are five initial facts to know:
Some Renewable Energies Are Less Expensive Than You’d Imagine
Investors tend to assume that wind and solar technologies are expensive – and this did used to be the case, compared to fossil fuels. However, the costs of of these renewable energy technologies have plummeted as the market has consolidated and technologies have evolved for cheaper manufacture. Solar PV panels for example cost less than 25 per cent of their price in 2008. There are also various subsidy and grant schemes available for investment which makes it less expensive.
Government Policies Are Unclear – and This Is Serious Investment Blocker
Investors naturally want certainty, and the lack of clarity over government policies is making this difficult. The British government is particularly uncertain over its direction, compared to the Scottish and Irish governments which are forming a renewables coalition and pooling resources to drive their green energy industries – including solar panels in Northern Ireland – forward. Key problems in the UK include fossil fuel subsidies, skewed tax relief and backdated changes to renewables incentives.
Regulators Are Improving
Recent research shows that regulators are being viewed in a more positive way in the UK, with the FCA working closely with green energy crowdfunding bodies to help bring investors greater opportunities to make money from the renewable energy sector.
The Best Renewable Role Models Are Overseas
The leading countries for renewable adoption include South Africa, Denmark and Germany, and Scotland leads the way in wind and marine technologies. Germany has more than 800 energy co-ops for green technologies alone and its government has committed to its generous renewable incentives. Closer to home, solar panels in Northern Ireland are being heavily adopted.
Business Comes First
Both individuals and companies are driving forward with green energy developments and hoping that government catches up. Many businesses are becoming more strategic in their energy procurement for example and directly procuring what they need from green sources to mitigate the risks of energy interruption and price volatility. This increasingly allows the sector to lessen its dependance on government policies and subsidies.